Zimbabwe President Emmerson Mnangagwa is set to officiate at the groundbreaking ceremony of an Industrial Park in Beitbridge, worth US$3,6 billion.
Mnangagwa will officiate the ground-breaking ceremony for the Palm River Energy and Metallurgical Special Economic Zone (SEZ) industrial park, a US$3.6 billion project located about 20km west of Beitbridge town.
Developed in collaboration with a Chinese company, the project aims to introduce stainless steel production and bolster Zimbabwe’s mining and energy sectors.
Covering roughly 5,100 hectares, the integrated industrial hub will feature a coking plant with an annual capacity of one million tonnes of coke, a ferro-chrome smelting plant producing 100,000 tonnes, and a 1,200MW coal-fired power plant—surplus power from which will support the national grid.
Initially employing 400 locals, the venture is expected to create over 2,000 jobs and offer technical training to enhance local skills.
The initiative, structured as a joint venture with partners including Xintai Resources and Tuli Coal, will be implemented in five phases over a 12-year period, with the first phase valued at US$237 million.
This development aligns with Zimbabwe’s broader strategy to attract foreign direct investment and drive economic growth through Special Economic Zones.
